Crypto traders are drawn to the market by its bombastic growth and lucrative opportunities to make a profit. However, not every investor is seeking volatility or using degenerate leverage levels to gamble at derivatives exchanges. In fact, stablecoins usually comprise half of the total value locked (TVL) on most decentralized finance (DeFi) applications that focus
Month: May 2021
In a landscape of so-called scaling solutions primarily composed of sidechains and EMV-enabled competitors, one widely anticipated “rollup” layer 2 sidechain for Ethereum has finally arrived. Offchain Labs announced the launch of Abritrum One with a blog post late last night. Arbitrum One is currently live on Ethereum in a beta state, though teams that
For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017. As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest,
Last month, Bitcoin (BTC) reached above $60,000, highlighting the current frenzy around digital currencies. Following BTC, altcoins also saw substantial increases in value. All of this is music to the ears of long-term and short-term bull investors seeking increased gains, even with the current pullback and support of Bitcoin hovering around $40,000. However, despite all
After a flurry of activity that saw Dogecoin (DOGE) briefly process a higher dollar-value of daily transactions than Bitcoin (BTC) and Ether (ETH) combined, the surge on the Doge blockchain appears to be slowing down. Dogecoin’s price increase throughout 2021 was accompanied by an equally outlandish increase to the value of transactions taking place on
Decentralized exchange Uniswap successfully launched version 3 of its platform in May — resulting in high trade volumes despite a downturn across the cryptocurrency markets. The latest version of the hugely popular decentralized finance (DeFi) automated market maker (AMM) has quickly attracted a sizable amount of trade volume, seeing it move into the top five
Mid-May’s price plunge was one of crypto’s wildest pullbacks in recent years, a tumble that eliminated nearly $1 trillion from crypto’s market value. The industry had soared to new heights a month earlier, with Bitcoin (BTC) reaching almost $64,000, driven in good part by institutional investors. Now that some calm has returned to the market,
At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late. In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof
The cryptocurrency market faced a new wave of selling pressure on May 28 as Bitcoin (BTC) price dropped to $35,100 and traders seem generally disinterested in buy the dip ahead of the weekend. Despite the downside moves seen across the market over the past couple 2 weeks, institutional investors have for the most part held
Bitcoin may not mean an end to traditional currency and banking, according to Peter Van Valkenburgh, research director at Coin Center. “I think there’s folks in the Bitcoin community who probably make too many noises about how Bitcoin is going to dominate all economic systems and nobody will be using dollars anymore, and nobody will
One ultra-rare CryptoPunk is set for some extra stage time at a hotly anticipated upcoming auction. In a Tweet today, luxury auction house Sotheby’s announced that the sale of CryptoPunk #7530, also known as “Covid Alien”, will be offered during a “special, standalone” auction. The Punk was previously announced as part of the “Natively Digital”
Bitcoin (BTC) led the entire cryptocurrency market through a tumultuous period after the majority of the cryptoverse was painted red on May 19, a day now also referred to as “Black Wednesday.” BTC’s price fell below $40,000 for the first time since it blew past the resistance level on Feb. 9 on the back of
Earlier this week billionaire investor Carl Icahn’s told Bloomberg that he is considering entering crypto in a big way but this hardly made any difference to crypto prices. This is just another hint that the underlying sentiment is bearish and that crypto markets are not reacting positively to favorable news. However, this does not mean that the
Bitcoin’s (BTC) quick run-up above $40,000 during the early New York trading session Thursday lost momentum midway as traders decided to secure short-term profits. The benchmark cryptocurrency shed up to 12.08% after topping out at $40,440 on Coinbase. It reached an intraday low of $36,410 ahead of the London opening bell on Friday, showcasing upside
Following in the footsteps of VanEck earlier this month, Wisdom Tree has filed an application for an Ether (ETH) exchange-traded fund submitted to the United States Securities and Exchange Commission. According to filings dated May 27, the ETF’s shares would be listed on the Chicago Board Options Exchange’s BZX Exchange. On May 7, rival ETF
The first step to successful trading is the identification of medium and the short-term trends. Traders who remain on the right side of the trend and use risk management principles usually end up earning profits. An equally important activity in the trading process is calculating the entry. Many times, traders are afraid to pull the
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